PFG Investments LLC Increases Holdings in Rio Tinto Group (NYSE:RIO)

PFG Investments LLC raised its stake in Rio Tinto Group (NYSE:RIO) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,194 shares of the mining company’s stock after purchasing an additional 655 shares during the quarter. PFG Investments LLC’s holdings in Rio Tinto Group were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in Rio Tinto Group in the 2nd quarter worth approximately $518,000. Creative Planning lifted its position in shares of Rio Tinto Group by 4.6% during the second quarter. Creative Planning now owns 76,747 shares of the mining company’s stock worth $5,060,000 after purchasing an additional 3,360 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rio Tinto Group by 7.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 40,583 shares of the mining company’s stock valued at $2,676,000 after purchasing an additional 2,728 shares during the period. EP Wealth Advisors LLC grew its holdings in Rio Tinto Group by 22.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,240 shares of the mining company’s stock valued at $345,000 after purchasing an additional 945 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Rio Tinto Group during the 2nd quarter worth $1,910,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RIO shares. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group lowered their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Down 0.8 %

Shares of NYSE RIO opened at $60.39 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s 50 day moving average price is $60.87 and its two-hundred day moving average price is $63.17. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.